22 January 2015

It is never too early to make a budget for your finances. The earlier you start, the healthier your finances will be.

image source:- thecollegeprepster.com

How do you start?
If you are starting to set a budget regularly, the 50/20/30 rule is a good place to start. Here is how it goes:

1. 50% of your income (or less if you manage well) should be spent on the essential expenses. Essential expenses include housing, food, commute and other necessary utilities. You have to make sure that your essential expenses are 50% or less than your income.

2. 20% of your income (or more) should be your savings contributions. Yes, you should put away 20% of your salary for the distant future even when you are in your 20s. In your 20s, your retirement might seem far away, but remember compounding interest pays well in the long run. When you start saving early, the returns are exponentially higher.

3. 30% of your income (or less) can be used for all the fun stuff. Going out for the movies, eating in fancy restaurants or getting the latest smartphone: all of these come under the umbrella of “fun stuff”. All of these expenses should not be more than 30% of your salary.

Tips that will help you stay within budget:1. Use a personal finance app for tracking your expenses. You can update it on the go and it will help remind you to stay in budget.2. Review your expenses periodically to make sure. When you review your expenses periodically you start reducing impulse purchases and increase your chances of saving more money. When I started making a budget, I realized that I was spending way too much on take-out food. Being aware of this expense, I consciously made the decision to order food less often and cook more.3. Set an emergency fund aside that is worth at least 3 month’s salary. You might need this money anytime and having an emergency fund will allow you to take more risks with your career.

With much joy and pleasure, we announce that we have changed our Head Office to a different location. Here is our new location:

P.O. Box 75583Marabea Road, Al QuozDubai, UAE.

The Box in the Al Quoz district is a strategic and central location right in the heart of Dubai and only 5 minutes away from Times Square. Simple storage access is provided to customers from Business Bay, Downtown, Marina, JLT, Tecom, Jebel Ali, Sheikh Zayed Road and much more.

Our working hours remain unchanged. From Saturday to Thursday from 9.00 am to 6.00 pm.

You can visit our head office for Self Storage, Bulk Storage, Local Moving and International Relocation requirements. You can also visit our office to buy packaging materials.